When you buy a car, it comes with a warranty that often includes a provision that encourages the purchase of non owner insurance. You may think that this is a good thing, but you might be surprised at what it actually means. In most states, the provision requiring the purchase of the non owner car insurance is considered to be void or has an expiration date, which makes it meaningless. Here are a few things that you should know about non owner insurance.

 

Non owner insurance is typically purchased by people who have driven without getting the proper licensing, or by those who are driving an older car, or a vehicle that has not been properly maintained. People who purchase these policies do so knowing that the car will not be covered in the event of an accident. The non owner car insurance does not cover things like theft or damage caused by an insured party. Instead, it only covers things like damages caused by an uninsured driver. If you are found at fault in an accident, you can expect to pay for the damage out of your own pocket.

 

So why do you need non-owner insurance? One reason that you might want to purchase such protection is to protect your investment. Think about it: you likely paid a pretty penny for that flashy sports car, and chances are that you will not be able to get that car back if something happens to it. Even if you have a loan on the vehicle, you could lose it all because of non owner insurance. Some lenders will not lend money to someone who has no form of coverage. The expense of having a policy could save you money in the end.

 

Another reason to purchase non owner insurance is to protect your personal assets. Think about what you own: your car, your home, your health, and your life. Any one of these could be worth a fortune if you were to become injured or even killed as the result of a car accident. Your best-case scenario would be to use non owner insurance to pay for the damages, but if that scenario was to ever happen, it would be of tremendous benefit to have some form of coverage in place.

 

So where can you find non-owner insurance? One great resource for finding this type of insurance is the internet. Almost every major insurance company has an online presence, and the World Wide Web gives you the opportunity to shop around for the best deal. By comparing auto insurance quotes from various companies, you will be better able to determine which one will be the best fit for you. You may even find that the price of non owner insurance is less than some of the basic auto insurance packages that are available. As with everything else in life, though, the more research you do, the better your chances will be of finding a low-cost policy that meets your needs without compromising your financial stability.

 

As you can see, there are many reasons why you may want to consider purchasing non owner insurance. If you already have homeowners or renters insurance or another form of coverage, by all means make sure that you protect your investment with adequate coverage. However, if you are just starting to drive, or you don't have a significant other who is driving your vehicle, it may not be such a bad idea to look into the possibility of purchasing non owner insurance. It may not be something that you need right away, but it could very well be something that provides peace of mind for many drivers who are just starting out in the world of motor vehicles. Learn more about this subject by clicking here: https://www.huffpost.com/entry/5-things-you-need-to-know_13_b_10636232.